Beazer Homes USA is asking a federal court to stop U.S. Bank National Association from demanding the builder repay $1.38 billion in loans for which the bank acts as the trustee. In its federal complaint filed on Tuesday, Beazer said greed is the motivation for the move. Beazer is asking the court to declare that the company's delay in filing its fiscal third-quarter results, due to discovery of accounting irregularities, may not be used by lenders to accelerate loan repayment requirements.
August 23, 2007 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Beazer Homes USA Inc. is asking a federal court to stop U.S. Bank National Association from demanding the builder repay $1.38 billion in loans, according to a regulatory filing late Tuesday.
In its complaint, filed in U.S. District Court in Atlanta, Beazer said greed is the motivation for the move.
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